The accent on scientific and empirical character of alchemy, especially from the field of the history of science, promotes the idea that one can understand the cryptic and metaphorical language of alchemy mainly through the laboratory chemical practice. As a result, the tendency is to interpret the âspiritualâ and esoteric language of alchemy, as metaphors for laboratory work and the most representative research on historiography of alchemy that point the spiritual character as being contaminated by esoteric sciences and Victorian occultism. This paper is paying attention to this dichotomy by attempting to understand the exclusivist position of the position that alchemy is a proto-chemistry and to see the consequences of such an interpretation. It is reviewed one of the most representative voices that interpret alchemy as spiritual by Carl. G. Jung and Mircea Eliade, and their rejection, as it is illustrated by William R. Newman and Lawrence M. Principe, showing the boundaries of both approaches and the hazarded character of understanding alchemy merely as part of the history of chemistry.